Sign In
Free Newsletter
The 7.1 Percent Increase
Jessica Perry//March 16, 2007
Biz BriefsNew Jersey homeowners, who pay the highest property taxes in the nation, saw their taxes rise 7.1 percent to an average of $6,331 last year, says the stateÂs Department of Consumer Affairs (DCA). This was an increase of $417 from the average property tax of $5,914 that residents paid in 2005, according to the DCAÂs 2006 tax summary, which also showed that the average property-tax bill shot up 28 percent between 2002 and 2006. A new property tax plan approved by state officials last month, however, would grant New JerseyÂs 1.9 million property taxpayers credits of as much as 20 percent and an average of $1,000 in tax relief.
